HXPP(SZ:002228)2022-12-08 09:34Group 1: Company Strategy and Operations - The company establishes factories in different locations to better serve large clients due to the "economic transportation radius" of 100-150 kilometers [1] - The company has expanded from 4 factories in 2008 to 23 production bases, meeting the needs of large clients and creating a network effect [2][3] - The company focuses on a "blue ocean strategy" targeting large clients, enhancing customer trust and satisfaction [3] Group 2: Market Position and Competition - The price difference between the company's products and competitors is minimal, with occasional slight increases [2] - The company aims to increase revenue through both existing clients and new potential clients [2] - The packaging industry has low entry barriers, and the company enhances competitiveness through product development, technology, and service [2][3] Group 3: Financial Aspects - Accounts receivable typically range from 60 to 90 days, with larger sales leading to higher accounts receivable [2] - The top 5 clients' revenue increased from 760 million CNY to 930 million CNY year-on-year [3] - The company is currently in the review stage by the China Securities Regulatory Commission for a directed issuance [4]